New York, NY – Skip Barber Racing School has received U.S. Bankruptcy Court approval in New York to sell all their assets and intellectual property to Liquid Asset Partners. The school is one of the largest racing institutions in the world. It has a 40+ year history providing racing instruction, defensive and high-performance driving classes, amateur and professional racing championships, and corporate entertainment experiences. Their list of Alumni includes top racers, business professionals, and world famous actors.

While most of the physical assets will be sold in a three month liquidation sale starting August 29, the iconic brand is available for outright purchase offers or potentially for licensing to regional race schools or tracks that want to grow their race programs. Liquid Asset Partners utilizes a unique approach to Intellectual Property and values the enormous brand recognition of the Skip Barber Racing School. Other schools and race tracks with instructional programs could add quality and demand to their race programs from the Skip Barber Racing School association.

“Skip Barber Racing School has built a great track record for over 40 years as the leading race and performance driving school. We feel honored to have this opportunity and are starting to talk to different parties about options for its future,” said Bill Melvin, owner of Liquid Asset Partners. “The demand for Skip Barber Racing School training is very high, and it’s amazing how most men know the Skip Barber Racing School as the best of the best. It just needs the right structure for it to grow for another 40+ years. Licensing to numerous tracks could be an option. Adding the Skip Barber Racing School to any track curriculum would be a huge draw for any local race community, or a national player may emerge to acquire the brand for a national program already in place.”

About Skip Barber Racing School:
Since 1975, Skip Barber Racing School, based outside Atlanta, GA, has operated a fully integrated system of racing schools, driving schools, racing championships, corporate events and special projects across North America. The organization delivers a combination of high quality instruction, equipment, facilities, and memorable experiences. Their history includes associations & ventures with Mazda, Dodge, Porsche, Ford, and more. Some of their best know alumni include Michael Andretti, Danica Patrick, Juan Pablo-Montoya, Bill Elliot, Jeff Gordon, Kyle Petty, Al Pacino, Charlie Sheen, Jerry Seinfeld and more.www.SkipBarber.com

About Liquid Asset Partners:
Since 1974, Liquid Asset Partners, based in Grand Rapids, MI, is an acquisition and disposition leader in motorsports, retail and wholesale industries across North America. Liquid Asset Partners specializes in creative ways to assist companies in unlocking value from underperforming assets. Some notable projects include Erik Buell Racing (motorcycles), BarcLounger, Circuit City, the Indian Motorcycle Company, and more.www.LiquidAP.com

They attached this image to their press release... Pat, shouldn't you get some kind of compensation for them using your likeness to help them make more money? Or maybe we all signed off on letting Skippy (or it's successors, creditors, etcetera etcetera..) using all of our likenesses years and years ago.

This won't change anything. The liquidation company has already paid for the assets so any money they receive will offset their risk/cost of buying those assets. Clearly the only asset of value is the name and they are trying to leverage it's licensing to other tracks or schools.

What's sad are all the people who bought schools and full seasons of racing for their loved ones that will never receive anything.

Even weeks ago Culver was telling people that new owners would resume programs in the fall when, of course, that was never true.

__________________You draw 'em a picture and they eat the crayons... (Duck Waddle commenting on the creative ways some people interpret driving instruction.)

Liquid Assets paid $830k for Skippy's assets minus a Purchase Price Adjustment to be determined at closing if assets have materially changed in their condition. I attached the order authorizing the sale and the Asset Purchase Agreement, which includes the Schedules of included assets (Schedule A and A-1) and excluded assets (Schedule B). The only excluded asset is "Debtor’s rights to credit card receipts from Card Connect." They are also selling: Customer & Vendor lists; Social Media accounts and log in’s: Facebook, Twitter, Instagram, YouTube, etc.; and Sales Force Log in and data download.

I'm not certain but I think non-confidential personal information of its customers is for sale. I'm curious how that is handled.

Awesome Ari, thanks! The customer list could be the most valuable asset they've got - as long as the bulk of it is still 'fresh'. But I'm going to try and pick me up all of the parts and pieces I didn't collect from my various crashes to complete my own RT (non-functional - it'll be a lawn ornament!). it's a short list... I think the only things I didn't wreck were a shift knob and a wing nut, lol.

I hope this site doesn't get taken down. I agree Gerado, there's so much here that still brings smiles and good memories.

Viz

Viz - I'll make sure the site stays up for at least the next few years, it doesn't take much in terms of money or time. Long-term is something else, ultimately it's going to get forgotten about unless it serves some new purpose.

We could repurpose it toward the Lucas race series and school. I think Gerardo would be on board with that.

Quote:

Originally Posted by sydude

Viz - I'll make sure the site stays up for at least the next few years, it doesn't take much in terms of money or time. Long-term is something else, ultimately it's going to get forgotten about unless it serves some new purpose.

__________________You draw 'em a picture and they eat the crayons... (Duck Waddle commenting on the creative ways some people interpret driving instruction.)

We could repurpose it toward the Lucas race series and school. I think Gerardo would be on board with that.

Glad to do it, but re-purposing it is the easy part. The question is, will anyone use it? Texting, Facebook and all of the other new kinds of 'short form' kinds of communication have completely decimated the way we used to interact with each other. It's completely changed us. Personally, I don't like it... there's no more real public dialog. Now it's all about quick (and usually valueless) statements that people make, where any resulting dialog is tertiary at best, both in substance and also in form (where they get buried as 'comments'). And all of this stuff mostly disappears quickly into the ether, where there's no real construct of valuable or resourceful information getting accumulated over time for the public to take advantage of.

My 2 cent rant is now over, but it will still be sitting right here, easily browsable and searchable for the next few years at least.

Social media has its place, but I, for one (of many), frequent many, many specific interest/purpose websites where there are lengthy lists of special forums geared to tailored interests and needs. Places such as garagejournal.com could never impart the wealth of knowledge shared there on a social media platform. It's like trying to watch television by reading a book and vice versa. There's a time and place, and need, for everything, and forums are still valued and needed.

Ultimately though, it's up to the users to make any website/forum worthwhile. We did it before, we can do it again in the context of what is still relevant to share via forums.